Strong labor force participation is a key input to economic growth, but the labor force participation rate in the United States among both men and women has fallen in recent decades. While women’s labor force participation had increased dramatically over the course of the second half of the 20th century as gender norms changed, women pursued more education and wage stagnation necessitated two incomes to support household income, it stalled and even declined after 2000. A critical cause of this decline is the lack of structural support for women’s full economic participation.
Sep 17 2021
Economic Update - September 17, 2021
The recent U.S. Department of Agriculture (USDA) review of the Thrifty Food Plan will result in increased benefits under the Supplemental Nutrition Assistance Program (SNAP), helping 42 million people afford food. This review, mandated under the bipartisan 2018 Farm Bill, will permanently increase the maximum SNAP benefit 21% above pre-pandemic levels. The increased benefit levels will result in an estimated $31.8 billion annually in additional economic activity, helping small businesses and local farms.
Emergency food programs enacted during the coronavirus pandemic were vital to working families who lost jobs through no fault of their own, and SNAP is projected to keep almost 8 million people out of poverty in 2021. Permanently increasing benefits under SNAP will benefit the whole economy as it helps individuals, working families, seniors and disabled people, and provides long-term benefits for low-income children.
Emergency food programs enacted during the coronavirus pandemic were vital to working families who lost jobs through no fault of their own, and SNAP is projected to keep almost 8 million people out of poverty in 2021. Permanently increasing benefits under SNAP will benefit the whole economy as it helps individuals, working families, seniors and disabled people, and provides long-term benefits for low-income children.
The U.S. economy relies on the 62 million Hispanic Americans who make up a disproportionate share of the essential workforce and face significant barriers in the workplace. This report provides a comprehensive look at the essential contributions of Hispanic workers and the structural barriers they face.
The economic impact of the coronavirus pandemic has shone additional light on the ongoing housing affordability crisis that affects millions of low-income renters each year, along with the associated risks of eviction, homelessness and financial insecurity. A significant expansion of the Housing Choice Voucher (HCV) program, which provides rental support to the most disadvantaged families, would help address this crisis. Doing so will reduce poverty, increase housing stability and support the broader economy. Though significant investments in housing supply are needed to fully address the housing crisis, vouchers are the best policy option to ensure the lowest-income Americans can quickly access stable housing.
Despite measured progress over the past few decades, Hispanic Americans continue to lag behind white Americans in earnings, working conditions and wealth. Hispanic workers are overrepresented in jobs that were on the frontlines of the pandemic—like healthcare and agriculture—which helped keep the U.S. economy afloat during the worst of the public health and economic crises. At the same time, Hispanic families and businesses were disproportionally affected by the COVID-19 pandemic and the recession it caused, exacerbating longstanding structural inequalities. Hispanic Americans responded to these challenges with resilience by risking their lives to perform the essential work of caring for others, maintaining the national food supply and keeping our economic recovery alive.
Recognizing both the contributions and challenges of the Hispanic community is vital to ensuring that every American can realize the promise of the America Dream.
Recognizing both the contributions and challenges of the Hispanic community is vital to ensuring that every American can realize the promise of the America Dream.
Sep 10 2021
Economic Update - September 10, 2021
Using state-level data from the Treasury Department on advance Child Tax Credit (CTC) payments, the Joint Economic Committee estimated the number of qualifying children, total number of payments, and total payment amount by congressional district in August 2021, when the second round of CTC payments was distributed.
Throughout the coronavirus pandemic, emergency Unemployment Insurance (UI) programs helped keep the economy afloat and provided a critical lifeline for millions of Americans who lost their jobs through no fault of their own. Emergency UI programs, which were created under the CARES Act in March 2020, were designed to stabilize both the economy and households by replacing enough of unemployed workers’ lost income so they could continue to put food on the table, remain stably housed and pay their bills. By helping more unemployed people make ends meet, emergency UI spending supported local businesses and helped stabilize the whole economy during the worst recession since the Great Depression.
